Franchise Group, Inc.

  1. April 21, 2025

    J&J Alleges Records Purge; Judge Flags Exactech Fee Surge

    A group of asbestos litigation defendants, including Johnson & Johnson, accused 10 asbestos trusts of trying to destroy evidence linked to tens of thousands of potential cases; a judge expressed concerns about Exactech's soaring legal fees; and the Third Circuit vacated a bankruptcy court's ruling to unseal records in Essar Steel's case, citing use of the wrong legal standard. This is the week in bankruptcy. 

  2. April 16, 2025

    Franchise Group Pursues $194M Ch. 11 Asset Sale

    Retail chain owner Franchise Group urged a Delaware bankruptcy judge Wednesday to let it sell its Vitamin Shoppe assets to a buyer offering nearly $194 million to take the assets and some related liabilities off the debtor's hands.

  3. April 07, 2025

    Judge May Delay Franchise Group Ch. 11 Plan Hearing

    A Delaware bankruptcy judge said Monday that retail chain owner Franchise Group could retain exclusive control over its efforts to restructure, but she was considering pushing back the hearing on its proposed plan to give opponents more time to gather information.

  4. April 03, 2025

    Franchise Group, Lenders Clash Over Control Of Ch. 11 Case

    A Delaware bankruptcy judge said Thursday she would soon decide whether retail-chain owner Franchise Group Inc. can keep exclusive control over its efforts to confirm a reorganization deal, as a group of lenders that considers the debtor's Chapter 11 plan "unconfirmable" works to intervene in the process.

  5. March 25, 2025

    Franchise Group Senior Lenders Sue Junior Creditors

    First-lien lenders of debtor Franchise Group Ltd. that are owed $1 billion have filed an adversary complaint in the retail chain operator's Chapter 11 case in Delaware, saying junior lenders owed more than $100 million are seeking to cash out secured collateral in violation of an intercreditor agreement.

  6. February 19, 2025

    Franchise Group Gets Tentative Deal On Ch. 11 Voting Process

    Retail chain operator Franchise Group Inc. and a group of lenders told a Delaware bankruptcy judge on Wednesday they were close to agreeing on a disclosure statement for Franchise Group's Chapter 11 plan that will let the debtor take votes on the proposed debt-for-equity and liquidation deal.

  7. February 18, 2025

    Willkie DQ'd, Guo Clawbacks Continue

    Franchise Group must find new bankruptcy counsel after a judge in Delaware found Willkie Farr & Gallagher LLP was conflicted in its case. The court-appointed trustee investigating Miles Guo's shell companies got another deadline extension to chase down estate funds. Spirit Airlines is awaiting confirmation of its reorganization plan. And bankrupt bitcoin miner Rhodium Encore has hit back at its landlord in court, alleging a campaign of sabotage.

  8. February 12, 2025

    Willkie DQ'd Out Of Franchise Group Ch. 11

    A Delaware bankruptcy judge Wednesday denied retail chain operator Franchise Group Inc.'s request to retain Willkie Farr & Gallagher LLP in its Chapter 11, saying issues stemming from a transaction it worked on before the bankruptcy are too central to the company's reorganization plans.

  9. February 07, 2025

    Franchise Group Ch. 11 Plan Not 'Fully Baked,' Judge Says

    A Delaware bankruptcy judge has declined to approve the disclosure statement for Franchise Group Inc.'s Chapter 11 plan, calling it not "fully baked" and saying the debtor should wait until after the date it is scheduled to sell company assets to solicit votes on its plan.

  10. February 03, 2025

    Lenders Want Willkie Out Of Franchise Group Ch. 11

    An ad hoc group of lenders in retail chain operator Franchise Group Inc.'s Chapter 11 has objected to the company's request to retain Willkie Farr & Gallagher LLP, arguing the firm cannot represent the debtor and its affiliates due to "red flags" indicating conflict of interest.